Dear Member,
Your Directors are pleased to present the 38thAnnual Report and the
Companys Audited financial statement for the financial year ended March 31, 2023.
1. FINANCIAL RESULTS:
The Companys financial performance, for the year ended March 31, 2023 is summarized
below:
PARTICULARS |
(Rs in Lacs) |
|
2022-23 |
2021-22 |
| Revenue from Operation |
8059.74 |
7359.24 |
| Other Income |
52.11 |
40.66 |
| Total Expenditure |
7888.41 |
7092.73 |
Profit before Interest, Depreciation Prior |
|
|
Period Items and Tax (PBIDT) |
388.10 |
444.58 |
| Less: Finance Costs |
111.77 |
87.06 |
| Less: Depreciation and Amortization |
52.89 |
50.35 |
Profit Before Exceptional/Prior Period |
|
|
Items and Tax |
223.44 |
307.17 |
| Less: Exceptional/Prior Period Items (Net) |
0 |
0 |
Profit Before Taxes (PBT) |
223.44 |
307.17 |
| Less: Tax Expense (Net) |
62.33 |
76.98 |
Profit for the year (PAT) |
161.11 |
230.19 |
FINANCIAL HIGHLIGHTS AND STATE OF COMPANYS AFFAIRS:
The turnover of the Company was Rs.8059.74 lakhs for the year ended March 31, 2023,
increase of 9.52%, as compared to Rs. 7359.24lakhs in the previous year. The Companys
Profit from Operations for the year ended March 31, 2023 was Rs. 161.lllakhs,decrease of
30%, as compared to Rs. 230.19 lakhs in the previous year mainly due to increase of
imported Rock Phosphate price & decrease in price of sulphuric acid.
2. MANAGEMENTS DISCUSSION AND ANALYSIS REPORT;
Managements Discussion and Analysis Report for the year under review, as stipulated
under Regulation 34 read with Schedule V to the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing
Regulations"), is given in "Annexure I" to this Report..
3. DIVIDEND:
In order to conserve the resources of the Company the Board of Directors has decided
not to recommend any dividend for the financial year 2022-23.
4. AMOUNTS TRANSFERRED TO RESERVES:
The Board discussed and decided to transfer the prof it of the year in reserves
account.
5. ANNUAL RETURN:
Pursuant to the provisions of section 134 (3) (a) and section 92 of the Act read with
Rule 12 of the Companies (Management and Administration) Rules, 2014, annual return of the
Company as at 31st March, 2023 is uploaded on the website of the Company at www.asianfertilizers.com.
6. NUMBER OF BOARD MEETING:
Four meetings of the Board of Directors were held during the year as on 27.05.2022,
13.08.2022, 09.11.2022 and 11.02.2023.
| S.No. Name of Director |
Designation |
No. of Meeting Held |
No. of Meeting Attended |
| 1. Mr. Gyanendra Nath Gupta |
Chairman/ Independent Director |
4 |
4 |
| 2. Mr. Ashok Kumar Matanhelia |
Managing Director |
4 |
4 |
| 3. Mr. Somil Matanhelia |
Whole Time Director |
4 |
4 |
| 4. Mr. Shobhit Matanhelia |
Whole Time Director |
4 |
4 |
| 5. Mr. Anurag Tulsyan |
Independent Director |
4 |
4 |
| 6. Mrs. Usha Matanhelia |
Women Director |
4 |
4 |
| 7. Mr. Sunil Kedia |
Independent Director |
4 |
4 |
Leave of absence was granted to the non-attending directors on their request and noted
in the attendance register as well as in the minutes of the meetings.
7. ANNUAL GENERAL MEETING:
The Annual general meeting of the Company for the financial year 2021-22 was held on
24/09/2022.
8. RELATED PARTY CONTRACT AND ARRANGEMENT OF THE COMPANY:
All the related party transactions that were entered during the financial year 2022-23
were in the ordinary course of business of the Company and were on an arms length basis.
There were no materially significant related party transactions entered by the Company
with Promoters, Directors, Key Managerial Personnel or other persons which may have a
potential conflict with the interest of the Company.
All such Related Party Transactions were placed before the Audit Committee for
approval, applicable. Prior omnibus approval is obtained for the transactions which are
foreseen and repetitive in nature. A statement of all related party transactions was
presented before the Audit Committee on a quarterly basis, specifying the nature, value
and terms and conditions of the transactions.
The policy on dealing with Related Party Transactions has been framed by the Board of
Directors with the prior approval of the Audit Committee.
All related party transactions entered by the Company were in the ordinary course of
business and were on an arms length basis, form AOC-2 is annexed with this report as "ANNEXURE
-II" to the Directors Report.
The details of the transactions with Related Party are provided in the accompanying
financial statements.
9. AUDITORS& AUDITORS REPORT:
(a) Statutory Auditor & Audit Report:
Pursuant to provisions of Section 139 of the Act and Rules made thereunder, M/s Rajeev
Prem& Associates, Chartered Accountants, Kanpur (FRN: 008905C) were appointed as
Statutory Auditors of the Company for a term of five years, to hold office from the
conclusion of the 33rd Annual General Meeting of the Company held on September
29, 2018, till the conclusion of the 38th Annual General Meeting to be held in
the year 2023. They have confirmed that they are not disqualified from continuing as
Auditors of the Company.
M/s. Rajeev Prem & Associates, Chartered Accountants, Kanpur submitted their report
for the financial year ended March 31, 2023. The observations of the auditors are
explained wherever necessary in appropriate notes to the accounts. Also, there is no
adverse comment in the Auditors Report.
(b) Secretarial Auditor & Secretarial Audit Report:
The Board, on recommendation made by the Audit Committee, had appointed Mr. Awashesh
Dixit, Practicing Company Secretary, Kanpur to conduct Secretarial Audit for the F.Y.
2022-23. The Secretarial Audit Report for the financial year ended March 31, 2023 is
annexed with this report as ANNEXURE HI" to this Report. The Secretarial Audit report
contains few adverse remarks or disclaimer.
Replies of qualification marks in Secretarial Audit Report are as follows.
(i) The company has provided the facility of Demat of the shares to all the
shareholders. However, the process of Demat of shareholding including promoters is in
progress;
Demat of shares are in the process.
(ii) Listing Fee for the F. Y 2023-24 is pending.
Company is in the process of revocation and will pay as per BSE orders.
(iii) Compliance u/s 185 needs to be done for the loan provided by the Company to
Vibrant Laminate Pvt Ltd
The approvel of share holders by way of special resultion is necessary for giving loan
to entety in which director is intreseted as per section 185 and accordinly company has
proposed the special result ion for the approval of loan so given, in the insuing AGM.
(iv.) Compliance strictly need to adhere in terms of provision of regulation 3(5) and
3(6) of SEBI (Prohibition of Insider Trading) Regulation 2015 regarding the Structured
Digital Data Base. Company is in the process of arranging software for reg. 3(5) and
3(6) of SEBI (Prohibition oflnsider Trading) Regulation 2015 regarding the Structured
Digital Data Base.
(c) Cost Auditor:
M/s K. S. Bhatnagar and Associates, Cost Accountants was appointed as the cost Auditor
of the Company for the financial year ended March 31, 2023 to conduct the audit of Cost
records of the Company. They have been re-appointed as the Cost Auditor of the Company for
the financial year ending on March 31, 2024. Pursuant to provisions of section 148(3) of
the Act read with Companies (Audit and Auditors) Rules, 2014, as amended, the remuneration
payable to Cost Auditors has to be ratified by the Members of the Company. Accordingly,
the Board seeks ratification at the ensuing Annual General Meeting of the remuneration
payable to the Cost Auditor for the financial year ending on March 31, 2024.
10. PARTICULARS OF LOANS. GUARANTEES & INVESTMENTS UNDER SECTION 186:
The Particulars of loans, Guarantees & Investments U/S 186, for the financial year
2022-2023 has been mentioned in balance sheet attached with the report.
11. MATERIAL CHANGES AND COMMITMENTS. IF ANY. AFFECTING THE FINANCIAL POSITION:
The Company would like to inform that no material changes and commitments affecting the
financial position of the Company have occurred during the period from the end of
financial Year till the date of this report.
12. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO:
a) Conservation of Energy
Since the operations of the Company are not energy intensive, therefore it does not
call for any steps to be taken.
Therefore clause (i), (ii) & (iii) of Rule 8 are not applicable.
b) Technology Absorption
The Company has not imported any specific technology for its operations which are not
updated in India.
13. RISK MANAGEMENT POLICY AND IDENTIFICATION OF KEY RISKS:
The Company would like to inform that the risks which threaten the existence of the
Company have been identified and accordingly a risk management framework has been created
and adopted by the Company. Further the internal auditor of the Company has been casted
with the responsibility of monitoring this framework and reports to the management the key
risks affecting the business.
14. DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP):
a. Appointment of Directors and Key Managerial Personnel
No director/s or KMP/s have been appointed or retired or resigned during the financial
year 2022-23
b. Retirement by Rotation:
Mr. Shbhit Matanhelia, (Whole Time Director), is liable to retire by rotation and being
eligible offer himself for re-appointment in the ensuing AGM.
The brief resume of Mr. Shobhit Matanhelia, (Whole Time Director) of the Company,
retiring by rotation but seeking re-appointment at the ensuing Annual General Meeting is
the part of Annual Report. (Please see notes of AGM Notice)
15. INTERNAL FINANCIAL CONTROLS:
The existing internal financial control system is adequate and commensurate with the
nature and size of the business of the Company. The internal auditors of the Company keep
a follow up on the internal financial reporting and information dissemination of the
Company between the departments. The Audit committee of the Company interacts from time to
time with the internal auditors of the Company regarding the adequacy of internal
financial control system placed in the Company.
16. DECLARATION BY INDEPENDENT DIRECTOR:
All Independent Directors have given declaration under section 149(7) of the Companies
Act 2013 that they meet the criteria of independence as laid down under Section 149(6) of
the Companies Act, 2013.
17. CSR ACTIVITIES:
Since the Company does not meet the criteria as defined under section 135 of Companies
Act, 2013 read with schedule. Therefore, the provision relating to CSR Activities are not
applicable to the Company.
18. FORMAL ANNUAL EVALUATION OF BOARD OF DIRECTORS AND ITS COMMITTEES AND INDIVIDUAL
DIRECTORS:
a. Performance evaluation of the Board of Directors of the Company:
As per the evaluation criteria formulated by the Nomination and Remuneration Committee
of the Board, Board of the Company has evaluated its own performance in context of
Companys performance, status of compliance carried out, efforts made
towards risk management, internal control, code of conduct followed and maintained by
them, ethical standards met. Below are some of the criteria on the basis of which Board
has made its evaluation at specific intervals:
1) Size and composition of the Board of Directors of the Company as per Companies Act,
2013.
2) Diversity of thought, experience, knowledge, perspective and gender in the Board of
Directors of the Company.
3) Maintaining transparency in the entire Board processes.
4) Any deviations, if any, from the set goals of the Board and steps taken to control
such deviations.
5) Efficiency and effectiveness of the Board of Directors of the Company in carrying
out its functions.
6) Timely flow of information among the Board of Directors.
7) Updation of knowledge of governing laws, rules and regulations.
8) Independent judgement of each matter placed before the Board of Directors.
After evaluating its own performance, Board is of the view that the performance of the
Board of Directors as a whole was satisfactory during the financial year 2022-23.
b. Performance evaluation of the Committees of Board of Directors of the Company;
The Board of Directors of the Company evaluated the performance of each of its
committees on the basis of various criteria such as composition of committee, quantum and
quality of information received by the committee members, time spent for discussing the
matter and reaching out the final decision, efficiency and effectiveness of the decision
making of the committee members, level of active participation of committee members,
number of meetings attended by the members, presence of the Chairman of the committee.
On the basis of the above criteria and the working procedure established by the Board
of Directors of the Company, the Board is of unanimous consent that all the committees of
the Company are working satisfactorily.
c. Performance evaluation of the Independent Directors of the Company:
As per the criteria formulated by Nomination and Remuneration Committee for the
performance evaluation of Independent directors, the performance of each Independent
director was evaluated by the entire Board of Directors but excluding the director being
evaluated. While evaluation the following things were taken into consideration:
1) Application of Independent judgment while taking decision as part of the Board of
Directors of the Company.
2) Exercise of the responsibility in a bona fide manner in the interest of the Company.
3) Attendance in the meeting of Board of Directors and meetings of committees where
independent director is a member.
4) Active participation in the familiarization programme conducted for the Independent
Director.
d. Performance evaluation of the each individual Director of the Company;
Further the Board evaluated during the year, the performance of each Director taking
each of them as a separate individual, in order to judge the contribution and efforts made
by them individually and the initiatives taken by them during the year. This helped the
Board of Directors in deciding whether to extend the tenure of director being evaluated.
19. COMMITTEES TO THE BOARD :
The Company has several Committees which have been established in Compliance with the
requirements of the relevant provisions of applicable laws and statutes.
The Company has following Committees of the Board:
A. Audit Committee
B. Nomination & Remuneration Committee
C. Stakeholders Relationship Committee
The details with respect to the composition of the committees, No. and dates of the
meeting of the committees and No. of meeting attended by each director of relevant
Committee are given in details below.
(A) AUDIT COMMITTEE:
In compliance and as per the requirements of Section 177of the Companies Act, 2013, an
Audit Committee has been constituted to monitor and supervise the Companys financial
reporting process with a view to provide accurate, timely and proper disclosures and
financial reporting.
The Audit Committee consists of three directors out of which two are Independent
Directors. Four meetings of Audit Committee were held during the year on 27.05.2022,
13.08.2022, 09.11.2022 and 11.02.2023. During the year, all the recommendations made by
the Audit Committee were accepted by the Board.
Composition and attendance in Committee meeting during the year:
Name of Committee |
Positions |
Meeting held |
Meeting attended |
| *Mr. G. N. Gupta |
Chairman/ Independent |
4 |
4 |
| Mr. Anurag Tulsyan |
Member/Independent |
4 |
4 |
| Mr. Somil Matanhelia |
Member / nonindependent |
4 |
4 |
*The Chairman of the Committee was present at the last Annual General Meeting held on
24th September, 2022.
a. ESTABLISHMENT OF VIC.IC / WHISTLE BLOWER MECHANISM:-
The Company has established a vigil mechanism for directors and employees in compliance
with the provisions of Sub section 9 of Section 177 read with Rule 7 of the Companies
(Meetings of Board and its Powers) Rules, 2014 to report genuine concerns. Vigil mechanism
shall provide for adequate safeguards against victimization of persons who use such
mechanism and make provision for direct access to the chairperson of the Audit Committee
in appropriate or exceptional case.
The Company promotes ethical behavior in all its business activities and in line with
the best practices for corporate governance. It has established a system through which
directors & employees may report breach of code of conduct or suspected fraud,
unethical business practices, illegality, fraud, and corruption etc. at work place without
fear of reprisal. The Board designated and authorized Mr. Somil Matanhelia, Whole time
Director of the Company as Vigilance and Ethics Officer and Chairman of the Audit
Committee to oversee the vigil mechanism. The functioning of the Vigil mechanism is
reviewed by the Audit Committee from time to time. It may be noted that if any of the
members of the Committee do have a conflict of interest in any given case, he/she to
recues themselves and the others on the committee would deal with the matter on hand. The
Vigil mechanism shall provide for adequate safeguards against victimization of employees
and directors who avail of the vigil mechanism and also to provide for direct access to
the Chairman of the Audit Committee and in case of repeated frivolous complaints being
filed by a Director or an employee, the Chairman of the Audit Committee may take suitable
action against the concerned Director or employee including reprimand.
During the Financial Year 2022-2023 there was no complaint reported by any Director or
employee of the Company under this mechanism.
(B) NOMINATION & REMUNERATION COMMITTEE:
The Nomination and remuneration committee consists of three Non-Executive Directors,
and all are Independents. During the period 1 meetings of the Nomination and remuneration
committee were held on 27.05.2022.
a. Composition and attendance in Committee meeting during the year;
| Name of Committee Members |
Positions |
Meeting held |
Meeting attended |
| Mr. G. N. Gupta |
Chairman/ Independent Director |
1 |
1 |
| Mr. Anurag Tulsyan |
Member/Independent Director |
1 |
1 |
| Mr. Sunil Kedia |
Member/Independent Director |
1 |
1 |
b. NOMINATION AND REMUNERATION POLICY OF THE COMPANY:
In compliance with the provisions of Section 178 of the Companies Act, 2013 the
Nomination and Remuneration Committee of the Board of Directors has formulated a policy
comprising the criteria for determining qualifications, positive attributes and
independence of a director and remuneration for the directors, key managerial personnel
and other employees, which have been approved and adopted by the Board. The criteria
formulated by the Nomination and Remuneration Committee is duly followed by the Board of
Directors of the Company while appointing the directors, Key Managerial Personnel and
senior management personnel in the Company.
I. Criteria for appointment of Directors in the Company:
1) Person of integrity with high ethical standards.
2) Person with knowledge, skill and innovative ideas that can be beneficial to the
Company.
3) Interested in learning new things and updating the knowledge and skills possessed.
4) Person who can act objectively while exercising his duties.
5) Who believes in team spirit
6) Who is responsible towards the work and can devote sufficient time and attention to
the professional obligations for informed and balanced decision making
In respect of Managing Director, Whole-time director and Independent director, besides
the general criteria laid down by Nomination and Remuneration Committee for all directors,
the criteria as mentioned in Companies Act, 2013 have also been included.
II. Criteria for appointment of Key Managerial Personal and Senior Management
Employee:
1) Person should be having the required educational qualification, skills, knowledge
and experience as required and necessary for the concerned post.
2) Person should be hardworking, self-motivated and highly enthusiastic.
3) Person should be having positive thinking, leadership qualities, sincerity, good
soft skills and power of taking initiatives.
in. Remuneration policy of the Company;
The Remuneration policy of the Company has been framed by the Nomination and
Remuneration Committee in such manner that it can attract and motivate the directors, key
managerial personnel and employees of the company to work in the interest of the Company
and to retain them.
1) Company has a policy to pay remuneration in such manner that the relationship of
remuneration to performance is clear and meets appropriate performance benchmarks.
2) It has been ensured while formulating the policy that remuneration to directors, key
managerial personnel and senior management should involve a balance between fixed and
incentive pay reflecting short and long term performance objectives appropriate to the
working of the Company.
3) Remuneration to be paid to Managing Director/Whole-time Director shall be within the
limits specified under Companies Act, 2013.
4) Increments to the existing remuneration may be recommended by the committee to the
Board of Directors.
^STAKEHOLDERS RELATIONSHIP COMMITTEE:
In compliance with the provisions of the Companies Act, 2013, the Stakeholders
Relationship Committee has been constituted by the Board for a speedy disposal of
grievances / complaints relating to shareholders/investors. Four meetings of the
Committee were held during the year on 27.05.2022,13.08.2022,09.11.2022.
Composition and attendance in Committee meeting during the year:
| Name of Committee Members |
Positions |
Meeting held |
Meeting attended |
| Mrs. Usha Matanhelia |
Chairman / Non-Executive Director |
3 |
3 |
| Mr. A. K. Matanhelia |
Member/Executive Director |
3 |
3 |
| Mr. Somil Matanhelia |
Member/Executive Director |
3 |
3 |
20. COMPLIANCE OFFICER;
Mrs. Kunika Meghani, Company Secretary of the Company was designated as the Compliance
Officer for complying with the requirements of the Securities Law and the Listing
Regulation with the Stock Exchanges in India from 22.07.2021.
21. INVESTOR GRIEVANCE REDRESSAL:
The Committee specifically looks into the shareholder redressal and investor complaints
on matters relating to refund orders, transfer of shares, sub-division, consolidation of
share certificates, issue of duplicate share certificates, non-receipt of annual report,
non receipt of declared dividends etc. Company has registered with SCROES and also
designated a mail id for investor investor@asianfertilizers.com. In addition, the
Committee advises on matters which can facilitate better investor services and relations.
Types of Complaint |
Number of Complaints |
| No. of complaints received |
0 |
| No. of complaints redressed |
0 |
| No. of complaints pending |
0 |
22. POLICY ON INSIDER TRADING:
The Company follows a strict code on prohibition of Insider Trading and the same has
been detailed to all the directors, senior management and employees of the Company and
available in Company website www.asianfetilizers.com and stock exchange website www.bseindia.com.
For ensuring the same, the Company has formulated & adopted a code of practice
& procedure for fair disclosure of Unpublished Price Sensitive Information as per SEBI
(Prohibition of Insider Trading) Regulation, 2015 andavailable in Company website www.asianfetilizers.com
& stock exchange website www.bseindia.com
23. CORPORATE GOVERNANCE:
The Provisions relating to Corporate Governance as enumerated in the Regulation 27 of
SEBI (Listing obligation & disclosure requirements) Regulation, 2015 are not
applicable on the Company.
Thus, the report on Corporate Governance needs not to be file with the Stock Exchange.
24. DISCLOSURE RELATED TO EMPLOYEES:
1. The ratio of the remuneration of each director to the median employee(s)
remuneration and other details in terms of sub-section 12 of Section 197 of the Companies
Act, 2013 read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are open for inspection at the
Administrative Office of the Company in terms of the first proviso of Section 136 (1) of
the Companies Act 2013 during the business hours. Members who are interested in obtaining
such particulars may write to the Company and same will be furnished on request.
2. The provisions of Section 197(12) and section 197(14) of the Companies Act, 2013,
read with Rule 5(2) and (3) of the Companies (Appointment and Remuneration) Rules, 2014 as
amended, are not applicable to the Company.
25. LEGAL FRAMEWORK AND REPORTING STRUCTURE:
The Company would like to inform that a legal compliance tool has been installed
vertically within the organization for monitoring and complying all laws applicable with
the Company. This tool is being overseen and supervised by the office of the Company
Secretary. Further the Company secretary has also been cast with the responsibility of
providing a compliance certificate at the Board meetings held at the end of the quarters
including the key non-compliances during the quarter.
26. COMPLIANCE OF SECRETARIAL STANDARDS:
During the financial year under review, the Company has complied with the applicable
SS-1 (Secretarial Standard on Meetings of the Board of Directors), SS-2 (Secretarial
Standard on General Meetings) as issued by the Institute of Company Secretaries of India.
27. DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the requirements of Section 134(5) of the Companies Act, 2013, it is
hereby confirmed that:-
a) in the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures;
b) the directors had selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company at the end of the financial year and of
the profit and loss of the Company for that period;
c) the directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities;
d) the directors had prepared the annual accounts on a going concern basis;
e) the directors had laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and were operating
effectively; and
f) the directors had devised proper systems to ensure compliance with the provisions of
all applicable laws and that such systems were adequate and operating effectively.
28. GENERAL:
Your Directors state that no disclosure or reporting is required in respect of the
following items as there were no transactions on these items during the year under review:
1. Details relating to deposits covered under Chapter V of the Act.
2. Issue of equity shares with differential rights as to dividend, voting or otherwise.
3. Issue of shares (including sweat equity shares) to employees of the Company under
any scheme.
4. Change in share capital of the Company.
5. Change in the nature of the business of the Company.
6. Details of subsidiary, joint venture or Associates Company.
7. Voluntary Revision of Financial Statements or Boards Report.
8. Amount transfer to investor education and protection fund.
9. The Company does not have any scheme of provision of money for the purchase of its
own shares by employees or by trustees for the benefit of employees.
10. Neither the Managing Director nor the Whole-time Directors of the Company receive
any remuneration or commission from any of its subsidiaries.
11. No significant or material orders were passed by the Regulators or Courts or
Tribunals which impact the going concern status and Companys operations in future.
12. No fraud has been reported by the Auditors to the Audit Committee or the Board.
29. ACKNOWLEDGMENTS:
The Directors would like to express their sincere appreciation of the cooperation and
assistance received from the Authorities, Readers, Bankers, Credit Rating Agencies,
Depositories, Stock Exchanges, Registrar and Share Transfer Agents, Associates as well as
our Shareholders at large during the year under review.
The Directors also wish to place on record their deep sense of appreciation for the
commitment, abilities and hard work of all executives, officers and staff who enabled
Company to consistently deliver satisfactory and rewarding performance even in the
challenging economic conditions.
|
For and on behalf of the Board of Directors of |
|
| Place: Gorakhpur |
Asian Fertilizers Limited |
Asian Fertilizers Limited |
| Date: 26/05/2023 |
Sd/- |
Sd/- |
|
Ashok Kumar Matanhelia |
Somil Matanhelia |
|
Managing Director |
Whole Time Director |
|
DIN: 01763776 |
DIN:01738413 |
|
789, Ajay Khand, |
789, Ajay Khand, |
|
Patrakar Puram, |
Patrakar Puram, |
|
Rapti Nagar, |
Rapti Nagar, |
|
Gorakhpur |
Gorakhpur |
+91-9892691696
